Cyber Monday Sales Top $1 Billion for First Time

Americans jumped on deals and promotions offered online on Cyber Monday, spending $1 billion and making it the busiest online shopping day ever, according to new data.

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Cyber Monday

Research firm comScore says revenue rose 16 percent from a year ago to $1.03 billion on the Monday after Thanksgiving. Since the beginning of November, online sales are up 13 percent to $13.55 billion.

The improvement is welcome for retailers hoping that Americans start spending more freely. But shoppers are still holding out for bargains and spending cautiously as unemployment remains high.